Rebate U/s 87A for A.Y. 2017-18

Posted Date : 26-Jun-2016 , 12:30:45 pm | Posted By CASANSAAR print

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REBATE U/S 87A FOR A.Y. 2017-18 (F.Y. 2016-17)

Rebate of up to Rs. 5,000 for resident individuals having total income of up to Rs. 5,00,000 as per Sec-87A of Income Tax Act, 1961 for A.Y. 2017-18 i.e. F.Y. 2016-17.

The rebate shall be equal to the amount of income tax payable on the total income for assessment year 2017-18 or an amount of Rs. 5,000, whichever is less.

Key Point :-

Individual residential of India,
Whose Total Income is up to Rs. 5,00,000,
Shall be allowed a rebate,
From Income Tax,
100% of Income Tax or Rs.5,000, Whichever is Less.

Category : Income Tax | Comments : 1 | Hits : 2090

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